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I certainly do not discount the possibility, or even probability that the property is overpriced, the issue I had was the first agent responding immediately said the price needed to be lowered, quickly followed by two others with little or no regard to why it may have been priced too high. This "circle the wagons" approach can certainly be frustrating to sellers.
Let me try one more time to explain to you that I did not say "the price needed to be lowered." This is a misinterpretation on your part which was undoubtedly influenced by your prejudice. The subject of the thread (as I saw it) was that the OP was frustrated with having to prepare for what amounted to fruitless showings. I gave her a few ways that might speed up the process or minimize the inconvenience. They were in no particular order (even though your prejudice caused you to see them as prioritized.) YOU are the one who turned three possible solutions to her frustration into a suggestion that the price needed to be lowered.
Maybe others have said that the price was too high but I didn't.
Maybe others have said that the price was too high but I didn't.
Actually the OP's first post here came to that conclusion. She said she concludes it's priced too high.
I didn't realize this was just a venting post.
She said:
It's from 2000 "cookie cutter"
Her market has 6 mos supply
All the comps have upgrades and her house doesn't
Also the comps range "500-700K"
She has old carpet
They haven't made any smaller changes either like even the faucets etc
They are going to re-evaluate in the spring but her husband has other ideas than she does.
So yes, she knows why the house isn't selling.
Everyone on that thread advised her to NOT make renovations which will not be recouped and just lower the price instead.
She also said the house was spotless but in this thread said her people are messy yada yada so she's probably just tired of the whole thing. I would be, too.
The first line of her first post reads: "We've had our house on the market for three months. We've had about 15 showings. Our price is right." I took her at her word. This is why my suggestions included a lower-than-market that would result in a fast contract. Again, my point was to offer suggestions that minimize her inconvenience. Any decision on which, if any, suggestion might help was left completely up to her.
The first line of her first post reads: "We've had our house on the market for three months. We've had about 15 showings. Our price is right." I took her at her word. This is why my suggestions included a lower-than-market that would result in a fast contract. Again, my point was to offer suggestions that minimize her inconvenience. Any decision on which, if any, suggestion might help was left completely up to her.
I know, I'm agreeing with you. That's why I went back and read her first post. There's usually more to what people say in this stuff. It's a little frustrating finding out the the real deal after 4 pages of debate ha ha.
My bet is it's the husband who's the barrier. She just threw that in there casually.
We all know the price is not right for this market. If it was, it would be under contract.
There are people touring and making unaccepted offers. So we know that there are buyers out there looking.
At the right price, one of those buyers will close the deal.
There are various strategies to get to the right price. The one posted above where you get the place looking dynamite, have an open house and several days for second showings, accepting the best offer by the following Friday has been successful for many in selling their house at the best price possible in the current market.
Be sure to pull the listing off for a time so it comes back on a new listing with the open house schedule listed and that your real estate agent markets it a variety of different ways. We had a real estate agent who made sure the HR dept. of the local hospitals and colleges knew that a home in their area in the price range that would appeal to their new employees was coming up. Informed them of the open house. And sold it to a two university professors.
Last edited by GotHereQuickAsICould; 01-04-2016 at 06:55 AM..
Show me a seller with a house for sale that doesn't think it's priced right......they don't exist. And if their home sells in the first 72 hours, suddenly, they think they listed too low. If the OP really wants to get to the bottom of things, she should order an appraisal. It's not a guarantee, because appraisals can vary, but I am inclined to agree, its likely at the higher end of the price range. And if those that say it's priced too high are correct, the longer it stays at the current price, the more permanent the over-priced badge will remain on her listing. Meaning, the next time a Realtor sees the address pop up, they won't even look at the price, but tell their buyer, "you don't want to look at that one, it's over-priced" even though you just dropped it by 10K.
In my market, empty homes stay on the market far longer than those still occupied. Even in a transient area of Washington, DC, empty = something is wrong. There's a reason staging has become a new sub-specialty.
I never provide my buyers with a pre-approval letter prior to them making an offer. I currently have a buyer qualified to purchase in the 700K range. He's looking in the 400K range. Why on earth would I have him out there showing sellers he can buy a home almost twice what he is looking at?
If the OP is fed up, then something has to change: suck it up and get use to it, reduce price, or move first, then sell. But getting from point A (we want to sell) to point B (our home is sold) is a process of the seller coming to terms with one of these items. How many times have we seen the buyer that walks in the door and says, I don't want to pay more than $1000 a month and I have $5000 to work with? We don't kick them out the door, we educate them. We show them what they can get for a $1000 payment and we show them what they can buy with $10,000 down. We are not pushing them into buying more than they can qualify for, we are simply adjusting their expectations to align with reality. The home buying (and selling) process is an education process and if your agent and/or loan officer are not trying to show you where your thinking is unrealistic, they either are not experienced or they've given up. And why your agent didn't tell those 3 verbals to bring them to him or her in writing makes me believe you need to change agents. There are many ways to turn a contingent offer into a rock solid offer, but not if the offer never makes it to the seller. We see this every single day.
I wouldn't bother, personally; anyone who loves the house will love it looking "lived in." If your realtor has a problem with that, remind him/her who's the boss here.
Actually the OP's first post here came to that conclusion. She said she concludes it's priced too high.
I didn't realize this was just a venting post.
She said:
It's from 2000 "cookie cutter"
Her market has 6 mos supply
All the comps have upgrades and her house doesn't
Also the comps range "500-700K"
She has old carpet
They haven't made any smaller changes either like even the faucets etc
They are going to re-evaluate in the spring but her husband has other ideas than she does.
So yes, she knows why the house isn't selling.
Everyone on that thread advised her to NOT make renovations which will not be recouped and just lower the price instead.
She also said the house was spotless but in this thread said her people are messy yada yada so she's probably just tired of the whole thing. I would be, too.
Yeah, everything is explained in the first post/thread by the OP.
Perhaps you could designate certain days for showings? I don't know, but my house was for sale for several years, so I get it. I especially love when you spend a few hours getting ready for a showing, then they never come.
Seriously, when I was looking, it was not going to matter if a few kid's toys were laying round, or if there were dishes in the sink. If, under the evidence of daily living, there good solid bones, then just don't worry about it.
And when I've looked at houses that still have dirty breakfast dishes in the sink, stuck with scrambled egg or cereal, I'm thinking about roaches and when was the last time they cleaned the bathroom. First impressions count.
Quote:
Originally Posted by otterhere
I wouldn't bother, personally; anyone who loves the house will love it looking "lived in." If your realtor has a problem with that, remind him/her who's the boss here.
Worst. Advice. Ever.
Last edited by Jkgourmet; 01-04-2016 at 09:42 AM..
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